CSR's US$1.1b order
Source: Bloomberg News |
July 28, 2011, Thursday
|
Print Edition
Print Edition
CSR Corp yesterday announced orders worth 6.89 billion yuan (US$1.1 billion) to supply railway stock in China and overseas.
The contracts include the sale of 3.13 billion yuan of rapid transit vehicles to Nanjing Metro Co, China's biggest train maker said in a statement to the Hong Kong stock exchange yesterday. The company is also selling 2.5 billion yuan of passenger carriages to China Railway Construction Investment Co and CAMRAIL and agreed smaller orders in Australia and Iran.
Shares of CSR have lost 16 percent this week in Hong Kong after the company confirmed it made one of the trains involved in a fatal rail crash in China last Saturday, while the other was built by the company's venture with Bombardier Inc.
The contracts include the sale of 3.13 billion yuan of rapid transit vehicles to Nanjing Metro Co, China's biggest train maker said in a statement to the Hong Kong stock exchange yesterday. The company is also selling 2.5 billion yuan of passenger carriages to China Railway Construction Investment Co and CAMRAIL and agreed smaller orders in Australia and Iran.
Shares of CSR have lost 16 percent this week in Hong Kong after the company confirmed it made one of the trains involved in a fatal rail crash in China last Saturday, while the other was built by the company's venture with Bombardier Inc.
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